MCB Bank Auction of 6-Marla Mortgaged House in Vehari on 17 November 2026

MCB Bank Limited is offering a mortgaged house in Vehari for public auction under Section 15 of the Financial Institutions (Recovery of Finances) Ordinance, 2001, to recover outstanding mortgage money relating to financing secured by Mr. Zahid Hussain, son of Haq Nawaz.

Mortgagee and Mortgagor

Mortgagee: MCB Bank Limited, a banking company incorporated and functioning under the laws of Pakistan, with its registered office at MCB House, 15-Main Gulberg, Lahore, and its MCB Consumer Centre, Collection Department branch at 59-A, Abdali Road, Ground Floor, Multan.

Mortgagor: Mr. Zahid Hussain, son of Haq Nawaz, resident of Chak No. 11, W.B., near Shamash Masjid, Mohallah Murtazaabad, Tehsil and District Vehari.

The outstanding mortgage liability through May 2025 is PKR 8,388,311.92, determined by M/s Fazal Mahmood & Co., Chartered Accountant, in a report dated 30 June 2025.

Property Details

Auction Schedule

Terms and Conditions

1. No bid below the reserve price of PKR 10,285,000 will be accepted.
2. Members of the general public may participate by depositing PKR 300,000 as earnest money, in cash or by pay order to the undersigned, together with a copy of their CNIC before bidding begins. Earnest money will be refunded to unsuccessful bidders.
3. The highest bidder will be declared the successful bidder and purchaser of the mortgaged property.
4. The successful bidder must deposit at least 25% of the bid amount within two business days of the auction. The remaining amount must be deposited within fifteen days of the initial deposit. If the remaining amount is not deposited within the prescribed period, the financial institution will apply the deposit toward reducing the borrower's liability and restart auction proceedings to recover the remaining amount.
5. If the successful bidder fails to make payment in accordance with these conditions, the earnest money will be forfeited, the remaining amount will be applied toward reducing the borrower's liability, and the property will be re-auctioned.
6. The property particulars and description are based on the mortgage deed and other documents. The bank will not be answerable or responsible for any error in those particulars.
7. The auctioneer may adjourn the auction proceedings without assigning any reason.
8. The property will be sold on an “as is where is” basis.
9. The successful bidder must pay all duties for transferring or registering the property in their favour, including applicable federal taxes or FBR taxes on the auction.

Auctioneer: MCB Consumer Centre, Collection Department, 59-A, Abdali Road, Ground Floor, Multan.

Through: Mr. M Azhar Saleem, Advocate High Court. Mobile: 0333-4233808.